The Analysis Of Import And Export Trade On The Economic Growth Of Laos

In recent years,with the rapid development of the world economy,the import and export trade has gradually become the strong impetus for the economic development in developing countries and regions.It can be said that the import and export trade are the main driver forces of economic growth and investment.Laos is a backward economic developing country,since the last century 90's,Laos had begun implementing an Extroversion Economic Development Strategy.Implementing the export-oriented,enhancing import and export trade and attracting foreign investments are the core strategies of Laos on extroversion implementing during this period.Laos has informally joined the WTO in the early 21st century and its country is also a vigorous development for foreign trade,so the import and export trade volume and its scale is growing steadily,the national population economy in Laos with the promotion of import and export trade which has reached the rapid forward.In this study,Firstly,it will analyze briefly the overview,current situation of economic development in Laos and its developing trends.Mainly focus on the situational developments on import and export trade in detail,analyzes Lao's current import and export trade level and its existing problems as the main issue.The study found that,the import volumes of Laos has reached an enormous development change,its total imports volume has increased rapidly.The imports of Lao PDR mainly came from Thailand,China,Vietnam and the European Union countries,but its imported goods structure has undergone a significant change and its import/export product structure holds the reasonable trend.However,the import and export trade in Laos still exist some problems such as:low level imports,import market is too concentrated,increasing degree of dependence on foreign trade and so on.Secondly,based on the analysis of import and export trade in Laos,this research has focused on the influences of import and export trade to the Lao economy.It mainly will start from both the positive and negative aspects to discuss about.the positive impacts include,import trade on economic growth in Laos,economic structure,technical progress in Laos,the Laos employment creation,the Laos national tax charge,enhancing the economic cooperation between Laos and foreign countries which all are taking the positive impact respectively.The negative influences included,excessive import restrictions on domestic technology and the Laos national industry development of minorities.Finally,the study has withdrew the experiences on China's foreign trade policy,by starting from the viewpoint of Lao trade strategy on proposing countermeasures to further raise the import and export trade level in Laos.Using the theory of advantage comparative,improve export competitiveness,enhance border trade,strengthening logistics construction and cooperation,strengthen the management of foreign trade,and improve the efficiency of using foreign capital to carry out.In addition,the study also proposes to strengthen the technical transformation of the traditional export sectors,optimizing the structure of import and export commodities,focus on the accumulation of human capital,increase investment by education,increase imports of advanced equipment and technology in finding the best shortcut to promote economic growth in Laos.